WELCOME TO WHEREVER YOU ARE: THE FUTURE OF PORTFOLIO MANAGEMENT ON PLATFORMS

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When it comes to on-platform portfolio management, you may well ask yourself, well, how did we get here? ‘Here’, to be specific, is where 86% of respondents to the lang cat State of the Adviser Nation research place business in a centralised investment proposition (CIP) of one kind or another.

Standard Life Aberdeen (SLA) is in the midst of all this, and we’re grateful to them for sponsoring this paper. But, and we do like to be clear on this, the views, data and analysis are pure lang cat, with nothing added.

In this paper we take a look at the different directions we think portfolio management could and should be taking.

What we see is a sector that has done much to break with bad old traditions, while developing a few not-so-great habits of its own along the way. We call out these habits in the paper, adding more than our tuppence worth about some of their potential unintended consequences. Feel free to point at us and laugh if our predictions turn out to be terribly wrong in 15 years’ time.

If it’s starting to sound like we got a bit carried away with our future gazing, we do understand that advisers in the here-and-now have a raft of suitability obligations to fulfil. It’s only right then that we’ve also included some practical pointers that should help advisers with the day-to-day realities of running model portfolios on platforms.